SmarTrend Watching for Potential Pullback in Shares of Alexion Pharmaceuticals After 2.20% Gain
Alexion Pharmaceuticals (NASDAQ:ALXN) traded in a range yesterday that spanned from a low of $121.15 to a high of $124.47. Yesterday, the shares gained 2.2%, which took the trading range above the 3-day high of $121.39 on volume of 531,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
Over the past year, Alexion Pharmaceuticals has traded in a range of $110.56 to $208.88 and is now at $122.09, 10% above that low. Over the past week, the 200-day moving average (MA) has gone down 0.8% while the 50-day MA has remained constant.
SmarTrend recommended that its subscribers protect gains by selling shares of Alexion Pharmaceuticals on August 30th, 2016 by issuing a Downtrend alert when the shares were trading at $128.24. Since that call, shares of Alexion Pharmaceuticals have fallen 6.8%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
Keywords: rebounders alexion pharmaceuticals